Last week in the news
The market sentiment was once again shaped by fundamentals during the previous week. On one hand, the new narrative regarding tariffs raised concerns over potential stagflation, while the new tax and spending bill adopted by the US House of Representatives is raising concerns over the broadening of the US debt. The US equities were traded with a negative sentiment, where S&P 500 ended the week at the level of 5.802. This news also supported the weakening of the US Dollar and rise in the price of gold, which ended the week at $3.357. Gold gained almost 2% only on Friday. The US Treasury yield also strongly reacted, where 10Y reached 4,62 at one moment, however, ending the week at 4,5%. This week BTC celebrated Pizza Day anniversary, with a fresh, new all time highest level at $111,7K.
The markets tried to start the previous week with a positive sentiment, however, news regarding new tariffs imposed by the US Administration turned the sentiment to negative territory. As per the announcement of the US President, the new 50% tariffs on imports from the European Union, will become effective as of 1st July. Although the US Administration is open to discussion, the latest news from the US President states “not looking for a deal”.
As announced on social network “Truth” the US President will impose a 25% tariffs on all IPhones which are produced outside of the US. This news hit shares of Apple, which lost about 3% only during Friday's trading session. At the same time, some analysts are noting that the production of IPhones in America will significantly impact the price of smartphones, which might reach $3.000 from current $1.000.
The US House of Representatives adopted a tax and spending bill, during the previous week. Although the bill includes cuts to Medicare, it also includes several other tax cuts, which significantly raised concerns over broadening of the US debt in the next 10 years period. It comes after a US credit rating cut by rating agency Moodys during the previous week, on the same concerns.
News is reporting that the companies are turning to AI in order to estimate the potential global impact of their supply chains, after introduction of trade tariffs by the US Administration. It is called “AI tariff agent” which can immediately calculate changes for 20.000 products.
The US Steel Corporation made a business agreement with Japanese Nippon Steel. The takeover was initially stopped by the US President Joe Biden, however, the Trump administration supported this deal but in terms of partnership between two companies. As it has been noted, the deal is supposed to create 70K new jobs in the US steel industry and $14B to the US economy.
CRYPTO MARKET
Bitcoin celebrated the anniversary of Pizza Day by reaching another significant milestone - a fresh, new all time highest level. At the same time, the rest of coins were traded in a relatively mixed manner. However, regardless of mixed trading, there has been an increase of total crypto market capitalization of around 4% on a weekly level, where around $114B had been added to the crypto market, mostly of which came from BTC. Daily trading volumes were also almost doubled on a weekly basis, from $148B traded week before to $306B. Total crypto market capitalization increase from the beginning of this year, currently stands at 4%, with an inflow of funds of around $139B.
BTC celebrated its anniversary with an increase in cap of 4,8% on a weekly level, adding total $99B to its capitalization. The rest of the crypto market did not follow a surge in value, as they were mostly traded in a mixed manner. On a positive side were Monero, with a surge in value of 16,7% w/w adding $1B to its cap. ETH modestly increased its value by 1,7%, with an inflow of $5,2B. Another coin with a significant weekly surplus was ZCash, which added 26% to its value. BNB was traded higher by 4%, while Solana added 3,6% in value. Uniswap was also traded higher by 4%. On a completely opposite side were coins like Maker, which dropped in value by almost 29% w/w. XRP and Litecoin lost around 2% in value, while Polkadot was traded lower by more than 3%.
When coins in circulation are in question, there has been higher activity during the previous week. This week ZCash added 5,2% more coins to the market. XRP, DOGE and DASH had an increase in circulating coins by 0,1%, the same as Solana and Filecoin. This week Polkadot had a higher increase of coins in circulation by 0,6%.
Crypto futures market
BTC futures were following the spot market, in which sense, futures on this coin ended the week by more than 5% for all maturities. Different situation was with ETH futures. Although ETH gained a modest 1,7% w/w, its futures perceived the market at different levels, where all maturities gained more than 9,5% on a weekly basis.
BTC futures maturing as of the end of this year closed the week at the level of $113.520 and those maturing a year later at the level of $119.980. ETH futures with maturity in December 2025 were last traded at $2.682 while December 2026 was closed at $2.835. It is interesting that ETH long term futures are still struggling to pass the $3K level.
The market sentiment was once again shaped by fundamentals during the previous week. On one hand, the new narrative regarding tariffs raised concerns over potential stagflation, while the new tax and spending bill adopted by the US House of Representatives is raising concerns over the broadening of the US debt. The US equities were traded with a negative sentiment, where S&P 500 ended the week at the level of 5.802. This news also supported the weakening of the US Dollar and rise in the price of gold, which ended the week at $3.357. Gold gained almost 2% only on Friday. The US Treasury yield also strongly reacted, where 10Y reached 4,62 at one moment, however, ending the week at 4,5%. This week BTC celebrated Pizza Day anniversary, with a fresh, new all time highest level at $111,7K.
The markets tried to start the previous week with a positive sentiment, however, news regarding new tariffs imposed by the US Administration turned the sentiment to negative territory. As per the announcement of the US President, the new 50% tariffs on imports from the European Union, will become effective as of 1st July. Although the US Administration is open to discussion, the latest news from the US President states “not looking for a deal”.
As announced on social network “Truth” the US President will impose a 25% tariffs on all IPhones which are produced outside of the US. This news hit shares of Apple, which lost about 3% only during Friday's trading session. At the same time, some analysts are noting that the production of IPhones in America will significantly impact the price of smartphones, which might reach $3.000 from current $1.000.
The US House of Representatives adopted a tax and spending bill, during the previous week. Although the bill includes cuts to Medicare, it also includes several other tax cuts, which significantly raised concerns over broadening of the US debt in the next 10 years period. It comes after a US credit rating cut by rating agency Moodys during the previous week, on the same concerns.
News is reporting that the companies are turning to AI in order to estimate the potential global impact of their supply chains, after introduction of trade tariffs by the US Administration. It is called “AI tariff agent” which can immediately calculate changes for 20.000 products.
The US Steel Corporation made a business agreement with Japanese Nippon Steel. The takeover was initially stopped by the US President Joe Biden, however, the Trump administration supported this deal but in terms of partnership between two companies. As it has been noted, the deal is supposed to create 70K new jobs in the US steel industry and $14B to the US economy.
CRYPTO MARKET
Bitcoin celebrated the anniversary of Pizza Day by reaching another significant milestone - a fresh, new all time highest level. At the same time, the rest of coins were traded in a relatively mixed manner. However, regardless of mixed trading, there has been an increase of total crypto market capitalization of around 4% on a weekly level, where around $114B had been added to the crypto market, mostly of which came from BTC. Daily trading volumes were also almost doubled on a weekly basis, from $148B traded week before to $306B. Total crypto market capitalization increase from the beginning of this year, currently stands at 4%, with an inflow of funds of around $139B.
BTC celebrated its anniversary with an increase in cap of 4,8% on a weekly level, adding total $99B to its capitalization. The rest of the crypto market did not follow a surge in value, as they were mostly traded in a mixed manner. On a positive side were Monero, with a surge in value of 16,7% w/w adding $1B to its cap. ETH modestly increased its value by 1,7%, with an inflow of $5,2B. Another coin with a significant weekly surplus was ZCash, which added 26% to its value. BNB was traded higher by 4%, while Solana added 3,6% in value. Uniswap was also traded higher by 4%. On a completely opposite side were coins like Maker, which dropped in value by almost 29% w/w. XRP and Litecoin lost around 2% in value, while Polkadot was traded lower by more than 3%.
When coins in circulation are in question, there has been higher activity during the previous week. This week ZCash added 5,2% more coins to the market. XRP, DOGE and DASH had an increase in circulating coins by 0,1%, the same as Solana and Filecoin. This week Polkadot had a higher increase of coins in circulation by 0,6%.
Crypto futures market
BTC futures were following the spot market, in which sense, futures on this coin ended the week by more than 5% for all maturities. Different situation was with ETH futures. Although ETH gained a modest 1,7% w/w, its futures perceived the market at different levels, where all maturities gained more than 9,5% on a weekly basis.
BTC futures maturing as of the end of this year closed the week at the level of $113.520 and those maturing a year later at the level of $119.980. ETH futures with maturity in December 2025 were last traded at $2.682 while December 2026 was closed at $2.835. It is interesting that ETH long term futures are still struggling to pass the $3K level.
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